Schizophrenia Drugs Market Overview and Regional Outlook Study 2019 – 2027

Posted by Pooja Mahajan on November 21st, 2019

Transparency Market Research (TMR) has published a new report in the schizophrenia drugs market for the forecast period of 2019–2027. According to the report, the global schizophrenia drugs market was valued at ~US$ 11.2 Bn in 2018, and is projected to expand at a CAGR of ~4% from 2019 to 2027. Rise in the prevalence of schizophrenia, launch of innovative products by key market players, and expansion of pharmaceutical and biopharmaceutical companies are anticipated to augment the global schizophrenia drugs market from 2019 to 2027.

Schizophrenia Drugs Market: Overview

• North America and Western Europe are likely to account for a significant share of the global schizophrenia drugs market, owing to a large patient population and rise in the awareness regarding schizophrenia among people in the region. Moreover, the launch of new schizophrenia drugs by pharmaceutical companies can be attributed to the expansion of the schizophrenia drugs markets in North America and Europe.
• Launch of generic drugs for schizophrenia due to loss of patent protection and exclusivity of branded drugs is likely to hamper the global schizophrenia drugs market. Asia Pacific is expected to be a highly lucrative market for schizophrenia drugs during the forecast period.

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Rise in Prevalence of Depression

• The number of depressed patients is rising across the world. According to the WHO, more than 300 million people suffer from depression and over 800,000 people commit suicide every year. Depression is the second leading cause of death in people aged between 15 and 29 years.
• Depression affects approximately 14.8 million U.S. adults and 6.7% of the people aged 18 years or above in the country. In the U.S., neurological illnesses and psychiatric disorders cost more than US$ 760 Bn a year.

Launch of New Schizophrenia Drugs

• Launch of new schizophrenia drugs in various countries is fueling the global schizophrenia drugs market.
• In 2015, Otsuka Holdings Co., Ltd. announced the launch of REXULTI in the U.S. In April 2017, the drug was launched in Canada.

Launch of Generic Schizophrenia Drugs to Hamper Market

• Generic drugs for schizophrenia are being launched due to loss of patent protection and/or exclusivity of branded drugs.
• The patents of all products offered by Zyprexa of Eli Lilly and Company have expired. Thus, the number of launches of generic drugs for schizophrenia has increased all over the world. This has led to an increase in generic schizophrenia drugs in developed countries.

Asia Pacific Schizophrenia Drugs Market to Expand Significantly

• The schizophrenia drugs market in Asia Pacific is anticipated to expand at a significant rate during the forecast period, owing to the presence of generic schizophrenia drugs in most countries and sub-regions of Asia Pacific.
• Loss of patents have substantially increased the sales of generic schizophrenia drugs in the region.

Schizophrenia Drugs Market: Competition Landscape

• The report also provides the profiles of leading players operating in the global schizophrenia drugs market. These include ALLERGAN, Otsuka Holdings Co., Ltd., Janssen Global Services, LLC (Johnson & Johnson), Pfizer Inc., Mayne Pharma Group Limited, Vanda Pharmaceuticals Sumitomo Dainippon Pharma Co., Ltd., Eli Lilly & Company, and AstraZeneca.